Owner Events of Default. The following shall constitute events of default on the part of Owner (each, an “Owner Event of Default”) under this Agreement:
(i) Owner fails to make any undisputed payment required hereunder within thirty (30) days after written notice thereof from O&M Contractor;
(ii) any representation or warranty of Owner in this Agreement proves to have been false or misleading in any material respect when made, and Owner has not, within thirty (30) days after written notification thereof from O&M Contractor, either fully remedied, or commenced and diligently pursued the remedy of, all adverse impacts on O&M Contractor resulting therefrom; provided that such thirty (30) day period may be extended to sixty (60) days; provided, further, that Owner has commenced and is at all times diligently pursuing such remedy;
(iii) Owner (A) files a petition or otherwise commences, authorizes, or acquiesces in the commencement of a proceeding or cause of action under any bankruptcy, insolvency, reorganization, or similar law, or has any such petition filed or commenced against it, (B) has a petition filed or commenced against it for a proceeding or cause of action under any bankruptcy, insolvency, reorganization, or similar law and such petition is not dismissed within sixty (60) days of its filing, (C) makes an assignment or any general arrangement for the benefit of creditors, (D) otherwise becomes bankrupt or insolvent (however evidenced), (E) has a liquidator, administrator, receiver, trustee, conservator, or similar official appointed with respect to it or any substantial portion of its property or assets, or (F) is generally unable to pay its debts as they fall due; or
(iv) Owner fails to comply with any material provision of this Agreement not otherwise set forth as an Owner Event of Default in this Section 9.2(a) and fails to cure or remedy such failure within thirty (30) days after notice and a written demand is made by O&M Contractor to Owner to cure the same or, if such failure cannot be cured within thirty (30) days, Owner fails to commence to cure such breach within thirty (30) days after such notice and written demand and thereafter diligently pursue such cure to completion, which cure shall in no event be later than sixty (60) days after such notice.
Owner Events of Default. The following shall be considered "Owner Events of Default":
12.3.1 if the Work is stopped for a period of one hundred eighty (180) Days through no act or fault of the Design/Builder for any of the following reasons:
12.3.1.1 issuance of an order of a court or other public authority having
12.3.1.2 an act of government, such as a declaration of national emergency, making material unavailable;
12.3.2 if the Work is stopped for a period of thirty (30) Days through no act or fault of the Design/Builder because the Owner has not made payment of undisputed amounts set forth in an Application for Payment within the time stated in the Contract Documents.
Owner Events of Default. Each of the following shall constitute a “Owner Event of Default” to the extent permitted by applicable law:
A. The filing by Owner or HPT of a voluntary petition in bankruptcy or insolvency or a petition for reorganization under any bankruptcy law, or the admission by Owner that it is unable to pay its debts as they become due, or the institution of any proceeding by Owner for its dissolution or termination.
B. The consent by Owner or HPT to an involuntary petition in bankruptcy or the failure to vacate, within ninety (90) days from the date of entry thereof, any order approving an involuntary petition by Owner.
C. The entering of an order, judgment or decree by any court of competent jurisdiction, on the application of a creditor, adjudicating Owner or HPT as bankrupt or insolvent or approving a petition seeking reorganization or appointing a receiver, trustee, or liquidator of all or a substantial part of Owner’s or HPT’s assets, and such order, judgment or decree’s continuing unstayed and in effect for an aggregate of sixty (60) days (whether or not consecutive).
D. At Manager’s option, the failure of Owner to make any payment required to be made in accordance with the terms of this Agreement on or before the due date which failure continues for five (5) Business Days after notice from Manager.
E. At Manager’s option, the failure of Owner to perform, keep or fulfill any of the other covenants, undertakings, obligations or conditions set forth in this Agreement which failure continues for thirty (30) days after notice from Manager, or, if the Owner Event of Default is susceptible of cure, but such cure cannot be accomplished within such thirty (30) day period, if Owner fails to commence the cure of such Owner Event of Default within fifteen (15) days of such notice or thereafter fails to diligently pursue such efforts to completion, provided that in no event shall such additional time exceed ninety (90) days.
F. The occurrence of an event of default beyond any applicable notice and cure period under any obligation, agreement, instrument or document which is secured in whole or in part by Owner’s or Landlord’s interest in the Hotel or the acceleration of the indebtedness secured thereby or the commencement of a foreclosure thereunder.
Owner Events of Default. The Owner shall be in default of its obligations under the Contract upon the occurrence of any of following events, (each, an “Owner Event of Default”): the Owner becomes insolvent, generally does not pay its debts as they become due, admits in writing its inability to pay its debts, or makes a general assignment for the benefit of creditors, or insolvency, receivership, reorganization, bankruptcy, liquidation, or similar proceedings are commenced by or against the Owner under the Bankruptcy and Insolvency Act (Canada), the Companies Creditors Arrangement Act (Canada), the Winding-up and Restructuring Act (Canada) or other insolvency law or law relating to creditors rights and such proceedings remain undismissed or unstayed for a period of twenty (20) Business Days; or the Owner fails to perform or observe in any material respect any provision of the Contract providing for the payment of money to the Contractor. The Owner shall not be in default of its contractual obligations where the obligation to pay is disputed in good faith. Except for the Owner Event of Default set out in Section 15.4(a)(i) above, the Owner shall rectify an Owner Event of Default within a period of ten (10) Business Days. If the Owner advises the Contractor and the Contractor agrees that such default cannot be rectified within such ten (10) Business Days, the Owner shall provide the Contractor with a schedule and time for complete rectification of the default reasonably acceptable to the Contractor and the Owner shall then diligently proceed to rectify such default in accordance with that schedule failing which the Contractor may avail itself of the remedies described in Section 15.5. If the Parties cannot agree on a schedule for remedy of the Owner Event of Default within a fifteen (15) Business Day period then Article 25 shall apply. Remedy for Owner Events of Default Upon the occurrence of an Owner Event of Default that is not rectified or cured pursuant to Section 15.4, the Contractor may either: terminate the Contract by delivery of a notice of termination to the Owner, whereupon: the Contract shall be terminated, effective as of the date of termination in the notice unless prior to the effective date of termination the Owner has remedied the Owner Event of Default; and the Contractor shall be entitled to be paid:
Owner Events of Default. (a) For the purposes of this Project Agreement, “Owner Event of Default” means any one or more of the following events or circumstances:
Owner Events of Default. Each of the following actions and events may be deemed an “Owner Event of Default”:
16.1.1.1 A failure by Owner within the time periods specified in this Agreement to pay the amount due and payable under this Agreement to Manager or its Affiliates for the Management Fees, Reimbursable Expenses or Centralized Services Charges and that is not cured within sixty (60) days after notice to Owner specifying such failure; provided, that in the event sufficient funds are available in the Operating Account to pay such amounts then due and Manager has the right to withdraw, transfer or apply such funds to the payment of such amounts then due, then such failure of Owner to pay such amount shall not be an Event of Default;
16.1.1.2 Except as set forth in Section 16.1.1.1, a failure by Owner to pay any amount of money to Manager when due and payable under this Agreement that is not cured within sixty (60) days after notice to Owner;
16.1.1.3 A failure by Owner to materially perform or comply with any of the covenants, duties or obligations set forth in this Agreement to be performed by Owner that is not cured within thirty (30) days following notice of such default from Manager to Owner; provided, that if: (a) the default is not susceptible of cure within a thirty (30) day period; (b) the default cannot be cured solely by the payment of a sum of money; and (c) the default would not expose Manager to an imminent and material risk of criminal liability or of material damage to its business reputation, the thirty (30) day cure period shall be extended for such time as is necessary (but in no event longer than ninety (90) days) to cure the default so long as Owner commences to cure the default within such thirty (30) day period and thereafter proceeds with reasonable diligence to complete such cure; and
(i) Owner’s failure generally to pay its debts as such debts become due; (ii) a general assignment by Owner for the benefit of its creditors, or any similar arrangement with its creditors by Owner; (iii) the entry of a judgment of insolvency against Owner; (iv) the filing by the Owner of a petition for relief under applicable bankruptcy, insolvency, or similar debtor relief laws; (v) the filing of a petition for relief under applicable bankruptcy, insolvency or similar debtor relief laws by any Person against Owner which is consented to by Owner; (vi) the appointment (or petition or application for appointment) of a receiver, custodian, trustee, conservator, or liquidator t...
Owner Events of Default. The following circumstances shall constitute events of default on the part of Owner (“Owner Events of Default”) under this Agreement:
(a) the bankruptcy, insolvency, dissolution, or cessation of the business of Owner;
(b) a material failure by Owner to perform its obligations hereunder which continues for thirty (30) Days after Owner’s receipt of Notice of such failure, unless Owner commences to cure such failure within said thirty (30) Days and either cures or continues to diligently attempt the cure of such failure; or
(c) a default by Owner in its payment obligations to Operator, unless Owner has cured such breach within thirty (30) days from receipt of Notice from Operator.
Owner Events of Default. The following acts or events which have not been cured within thirty (30) days of notice thereof by Developer, shall constitute "Owner Events of Default":
(i) Non-payment of any of Owner's obligations pursuant to this Agreement; or
(ii) Failure to execute any documents when so required under the terms of this Agreement.
Owner Events of Default. Owner shall be in default of its obligations pursuant to this Agreement upon the occurrence of any one or more events of default set forth below (each, an “Owner Event of Default”): Owner fails to pay any amount of the Contract Price owing under this Agreement that is not disputed in good faith, and such failure remains outstanding for a period of twenty (20) Business Days after Owner has received a notice of such payment default from Contractor stating that if Owner does not pay such amount Contractor may terminate this Agreement in accordance with Section 20.4; or An Insolvency Event occurs with respect to Owner.
Owner Events of Default. The following shall constitute events of default on the part of Owner ("Owner Event of Default") under this Agreement:
15.2.1. Owner fails to make or cause to be made any undisputed payment with respect to Contractor’s performance of Work at any SGF when due and fails to cure such failure within thirty (30) days after Notice and a written demand are made by Contractor to Owner to cure the same; or
15.2.2. To the extent not covered by Section 15.2.1, Owner fails to comply with any material provision of this Agreement as it relates to any SGF and fails to cure or remedy such default within thirty (30) days after Notice and a written demand are made by Contractor to Owner to cure the same, unless the consequences on Contractor of the default are capable of being fully addressed by a Change Order and Owner and Contractor are mutually and diligently seeking resolution through the Change Order procedures in this Agreement; or
15.2.3. (i) Owner (a) institutes a voluntary case seeking liquidation or reorganization under the Bankruptcy Law, or consents to the institution of an involuntary case thereunder against it,
